Page 45 - Banking Sector

Citigroup sees the days of traders slamming phones coming to an end

Citigroup has been working to boost the share of women from assistant vice president up through the managing director level to bolster its efforts to close the pay gap between male and female employee

Citigroup needs a new strategy for its lagging Asian consumer banks

Citi has pan-Asian heft, garnering about 30% of its revenue in the region from ASEAN nations

Data sharing, cybersecurity top concerns for banks, customers: Deloitte

Data sharing, cybersecurity and data protection have emerged as the top concern areas for the banks as well as customers, the report said

Naureen Hassan becomes first VP, COO of Federal Reserve Bank of New York

An Indian-origin veteran of the financial services industry has been appointed as the first vice president and chief operating officer of the Federal Reserve Bank of New York.

Indian Bank to divest stake in asset reconstruction JV ASREC India

State-owned Indian Bank on Friday said it will divest stake in joint venture entity ASREC (India) Ltd as part of asset monetisation exercise. The bank holds a 38.26 per cent stake in ASREC (India) Ltd. As part of the monetisation of the bank's non-core assets, the board of directors of the bank in its meeting held on March 5, 2021, accorded in-principle approval for partial/full divestment of the bank's stake in joint venture ASREC (India) Ltd, Indian Bank said in a regulatory filing. ASREC is an asset reconstruction company in which Bank of India, Union Bank of India, LIC and Deutsche Bank are the shareholders. The company was granted a certificate of registration by the Reserve Bank of India in October 2004 to carry out activities under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002. The company's authorised equity capital was Rs 125 crore and the aggregate paid-up equity and other equity was Rs 146.01 crore as

Administrative success but executive failure

The banking system is mired in structural difficulties. Roads are being built, but India continues to be a logistics nightmare relative to its Asian competitors.

State-run banks likely to see bad loan additions moderate: Morgan Stanley

Structural issues, however, could cap returns on their stocks, Morgan Stanley said

Axis Bank partners WhatsApp to offer basic banking services

Axis Bank on Wednesday said it will be available on popular social messaging app WhatsApp and will allow basic banking services, including account balance, and transactions history. The third largest private sector lender said the service will allow customers to seek information regarding their account balance, recent transactions, credit card payments, fixed and recurring deposit details, besides getting their queries answered in real-time. The facilities will be available to both the bank and non-bank customers, it said. Among others, people can put their queries about nearest branch, ATM, loan centre location. Customers can also apply for various banking products through WhatsApp, it said. They can also block their credit or debit card using the secure end-to-end encrypted messaging channel. Axis Bank said all the services on WhatsApp Banking will be available 24X7, including holidays. To get on-board, customers need to send a Hi to 7036165000 on WhatsApp. "Our objective is to

Mortgage lender HDFC to raise up to Rs 5,000 crore through bonds

The firm will issue non convertible debentures (NCDs) on a private placement basis

IDBI Bank likely to take call on additional tier-1 bonds post-PCA exit

The lender is in a better shape and the current capital base is adequate and could support growth in the next financial year

UK banks face savings glut on road to Covid-19 pandemic recovery

More deposits help shore up bank finances, but are not necessarily good news for lenders

IDBI Bank to set off accumulated losses worth Rs 45,586-crore

The issued, subscribed and paid-up share capital is worth Rs 10,752.40 crore and the security premium is of Rs 50,732.27 crore.

Citibank likely to hive off consumer banking business in India

Reorganising global consumer operations on the table of new CEO

PM harps on trust and transparency for depositors, investors in fin sector

Says banking sector was badly hit 12 years ago due to aggressive lending; but now instead of brushing NPAs under the carpet, it is mandatory to report even one-day defaults

Indian banks' loans rose 6.6% in two weeks to Feb 12: RBI data

Deposits rose 11.8%

Proposed ARC will not 'jeopardise' existing players: RBI governor

The ARC will not 'jeopardise' the activities of existing players in the space, Das said on Thursday

Centre lifts embargo on grant of govt businesses to private banks

Move will spur competition, promote efficiency in customer service standards

India's economic recovery to cut bank stress, but Covid hit to be felt: S&P

While the Indian economy is on a mend, the permanent GDP loss stemming from the brunt of the coronavirus is huge at 10 per cent

HSBC's India pretax profit in 2020 inches up to $1.02 billion

India is the third most profitable region for the lender after Hong Kong and mainland China

Top banks asked to justify why they still clear euro swaps in London

Banks are being asked to say which types of the derivatives they clear in Britain they would consider "the easiest to clear" at an EU clearer instead, a sign of a potentially targeted approach